Development
Weekly Roundup: February 22 – 28
Weekly Roundup from this past week: Azerbaijan begins plans to launch new business center as well as consider the latest offer to diversify its hydrocarbon resources, Kazakhstan opens new agricultural export markets in Asia and Iran looks to secure Caspian natural gas from its neighbor…
Kazakhstan to Supply Wheat to China Beginning March 2010
Kazakhstan firm, JSC National Company Food Contract Corporation, announced on February 26 that it would begin monthly wheat exports to China starting in March of this year according to Agrimarket.info.
The monthly shipment of approximately 20,000 tons of Kazakh wheat will follow in the wake of a 7,000 ton test shipment that allowed both parties to examine optimal supply routes. The arrangement between Kazakhstan and China also allows for Kazakh grain to be sold to countries in South-East Asia by transiting Chinese territory. Total annual sales to China are projected in the range of 150,000 tons of high-gluten containing wheat.
Azerbaijan and Slovenia Open Joint Business Center in Baku
Trend News services is reporting that last the new Slovenian-Azerbaijan Business Center will open in Baku this April with the mission of strengthening bilateral business ties and contact between entrepreneurs of Slovenia and Azerbiajan.
The areas of cooperation envisioned by the new business center are in the IT, mechanical engineering, construction services, tourism, finance and consulting sectors. The idea for the business center was first floated by Slovenian President Danilo Turk when he visiting Azerbiajan in late 2009.
Currently, trade turnover between both countries stands at just under $30 million USD a year. Full article here: http://en.trend.az/news/politics/foreign/1636304.html
Iran Announces Plans to Purchase Gas from Azerbaijan
Already faced with pressure to sell more gas to Russia, support the Nabucco pipeline project and continue to develop its own oil and gas infrastructure, Iran is now asking to purchase greater quantities of Azeri gas in 2010. Azerbaijan’s efforts to diversify its hydrocarbon exports seem to be paying off. According to Eurasianet.org:
“Iran’s ambassador to Baku, Mohammad Baqer Bahrami, made the public offer on February 26.”We are ready to purchase up to 10 billion cubic meters of gas from Azerbaijan,” Bahrami was quoted by the Trend news agency as saying. Iran could potentially buy every cubic meter of Azerbaijani gas after a new 200-kilometer pipeline connects the two states, the ambassador added”
The Caspian Business Journal plans to include more coverage of Iran and its economic impact in the Caspian Sea region in the coming months. Full article here: http://eurasianet.org/departments/news/articles/eav022610a.shtml
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